Taipei - China-based Taiwanese food and beverage giant Want Want China plans to raise 100 million US dollars through an initial public stock offering (IPO) in Taiwan on April 28, its underwriter said Tuesday. "We have proposed the price range of 12.5 Taiwan dollars
(0.37 US dollars) to 15.5 Taiwan dollars, and will start the book-building process between Wednesday and next Monday to determine at what price to offer the IPO," said an agent of the Grand Cathay Securities Corp, underwriter for Want Want.

He said the offering would be made in the form of Taiwan Depositary Receipts and institutional investors can apply for the purchase between Thursday and next Monday before Want Want's official listing in Taiwan on April 28.

The firm is already listed on the Hong Kong stock exchange, and would become the first China-based Taiwanese firm to return to the island for listing.

Cashing in with recently relaxed regulations for China-based Taiwan firms to return to raise funds, the company's stock offering would be the largest on the island this year.

The firm registered a net profit of 262.7 million US dollars in 2008, up 30 per cent from 2007. Its sales soared 42 per cent to 1.55 billion US dollars last year. (dpa)